United

Read

In a Dec. 6 post on Telegram, the Russian digital settlement platform Exved shared the announcement of its cross-border payment system, which is set to offer a solution for local legal entities engaged in international trade to use cryptocurrencies. 
Exved’s platform will enable Russian importers and exporters to utilize the Tether (<a href="https://crypto.news/price/tether/" target="_blank" rel="noreferrer noopener">USDT</a>) stablecoin alongside the offshore ruble and the United States dollar. 
<h2 class="wp-block-heading" id="a-multifaceted-approach">A multifaceted approach</h2> 
As stated in the&nbsp;<a href="https://t.me/exved/5" target="_blank" rel="noreferrer noopener">Exved announcement</a>, the newly launched project aims to empower Russian legal entities by facilitating direct cross-border payments at minimal market rates, eliminating the need for intermediaries. The exchange exclusively caters to legal entities and says it is committed to upholding anti-money laundering (AML) and combating the financing of terrorism (CFT) procedures. 
<figure class="wp-block-image size-large">
 <a href="https://t.me/exved/5" target="_blank"><img loading="lazy" decoding="async" width="601" height="1024" src="https://crypto.news/app/uploads/2023/12/Screen-Shot-2023-12-07-at-7.26.38-AM-601x1024.png" alt="Exved launches cross-border cryptocurrency payment platform - 32" class="wp-image-14224791"></a>
 <figcaption class="wp-element-caption">
 Dec. 6 post |&nbsp;Source: <a href="https://t.me/exved/5" target="_blank">Exved Telegram</a>
 </figcaption>
</figure> 
 You might also like: <a href="https://crypto.news/binance-to-stop-accepting-deposits-in-russian-rubles/"> Binance to stop accepting deposits in Russian rubles </a> 
Beyond its primary objective of connecting counterparties, the platform will also offer complimentary services such as assisting in the legal registration of transactions and escrow service, acting as a trustworthy guarantor for added security in financial dealings.&nbsp; 
Exved’s initiation has seen collaboration with notable industry partners, including InDeFi Bank, which was recognized for spearheading the decentralized crypto ruble project in 2022. 
<h2 class="wp-block-heading" id="removal-of-rubles">Removal of rubles</h2> 
As reported in an earlier update from November, the world’s largest cryptocurrency exchange has ceased accepting deposits in Russian rubles since Nov. 15.&nbsp; 
However, withdrawals will remain possible until Jan. 31. Users holding fiat balances in Russian rubles can transfer their funds to CommEX free of charge, as outlined in the announcement. 
While some are straying away from cryptocurrency operations in Russia, local companies continue to embrace them. 
 Read more: <a href="https://crypto.news/russia-linked-crypto-ransomware-hits-u-s-arm-of-chinese-lender/"> Russia-linked crypto ransomware hits U.S. arm of Chinese lender </a>

Exved launches cross-border cryptocurrency payment platform

Table of Contents

crypto.news

Other articles published on Dec 7, 2023

MyDoge Account Hacked, Mobile App and Wallets Secure

13 Bitcoin Spot ETFs Could Launch by March 2024: Here's What Is Known So Far

FDUSD Terus Tumbuh Sejak Dimanjakan Binance, Kalahkan USDD

Ethereum Price Prediction as ETH Rises Above $2,300 – Can ETH Reach $3,500 by December 31?

Ethereum Whale With Over $60 Million In Unrealized Profits Moves Coins To Exchange

Satoshi Era Miner Sold the Bitcoins He Raised for $100! Here are the transactions carried out!

Join our free newsletter for daily crypto updates!